TRON Remains Top 3 Global Public Chains With Its TVL Exceeding $10 Billion
Amid the strong rally of the crypto market in August, TRON has reached one milestone after another. On August 16, TRON’s TVL reached $10,033,532,984, smashing the $10 billion thresholds, according to the data from blockchain explorer TRONSCAN.
Total value locked (TVL), an essential indicator for the TRON ecosystem, is the total value of the tokens staked in smart contracts. It includes the total frozen amount of TRX (TRON’s native token), the TVL on JUST (the first DeFi ecosystem on the TRON network), and the TVL on SUN.io (TRON’s first one-stop platform that incorporates stablecoin swap, token mining, and self-governance).
On August 16, the total TRX frozen was $3,005,917,850, accounting for 29.95%; the total value locked on JUST was $6,280,214,322, making up 62.59%, and the value locked on SUN.io was $747,400,812, constituting 7.44%.
TRON’s TVL has been shooting up. According to CryptoRank’s data, TVL on TRON’s public chain had exceeded $10.1 billion by August 18, ranking the top 3 in the world. The $10 billion milestone was achieved thanks partly to TRON’s public chain’s high throughput, scalability, and high availability. In addition, TRON’s continuous input into DeFi also contributed to the growth.
TRON has primarily completed the building of DeFi’s infrastructure and has established an all-encompassing DeFi ecosystem. Moreover, the strong alliance of the four stablecoins, USDT, USDJ, TUSD, and USDC, has offered the highest and the most stable traffic into DeFi projects on TRON’s public chain. As of now, the circulating supply of TRC20-USDT has reached $33 billion, accounting for over half of USDT’s total market cap, dethroning its Ethereum counterpart and topping the stablecoin market.
TRON founder and BitTorrent CEO Justin Sun said, “The total value locked on TRON breaking the $10 billion mark is an important milestone which attests to TRON’s brilliant achievements in DeFi and proves investors’ endorsement and trust for the TRON ecosystem. It’s been a delightful journey to see TRON becoming the most prevalent DeFi protocol in the industry. We welcome all of you to come and enjoy the wide array of DeFi applications on TRON and the benefits that come with them.”
As a premium public chain platform that is more balanced in terms of ecosystem, performance, and security, TRON boasts a full-fledged DeFi ecosystem and more than 51 million accounts and a thousand-grade TPS that fully caters to the high efficiency of DeFi. Therefore, TRON has overtaken many others and become the go-to chain for DeFi developers who look for cheap and fast premium public chains.
It is foreseeable that as TRON’s TVL continues to grow, TRON will become the most robust confidence booster for DeFi projects and investors in TRON’s public chain. Going forward, TRON will dedicate itself to the depth of DeFi products to boost the significant decentralisation of finance powered by a large-scale, low-cost and secure blockchain network. TRON will also stay committed to becoming the most representative financial infrastructure across the globe.
TRON is committed to promoting the decentralisation of the Internet and is dedicated to building the infrastructure for a decentralised Internet. The TRON Protocol, one of the largest blockchain-based decentralised operating systems globally, offers scalable, high-availability, and high-throughput support that serves as the foundation for all decentralised applications in the TRON ecosystem. The Protocol also uses an innovative, pluggable smart contract platform to improve compatibility with Ethereum smart contracts.
On July 24, 2018, TRON acquired BitTorrent Inc., an internet technology company based in San Francisco. The distributed technology designed by BitTorrent Inc. is innovative and highly scalable and keeps creators and consumers in control of their content and data. Over 170 million people use BitTorrent products every month. In addition, BitTorrent Inc.’s protocol delivers 40% of the world’s Internet traffic every day.